Armdale Property Management has significant holdings in the Halifax Regional Municipality Over the last several years it has submitted many development proposals to the city and received approval. The challenge is to decide which projects to undertake in 2013 and which to defer or never pursue. In preparation of an upcoming meeting, staff have been asked to prepare a list of recommended projects for 2013. Projects under consideration are as follows: Notations Project Forecasted Profit Project Type Investment Required in 2013 $2,500,000 Lifetime (years) Location A Almon $1,400,000 Multi- unit 3 Halifax Peninsula B Novalea $1,800,000 $1,200,000 Mixed 2 use Rockingstone $500,000 5 D Williams Lake $1,700,000 5 E Hubley $900,000 4 Halifax Peninsula Mainland South Mainland South Hz County West Hex County West Clayton Park Bedford F Lakeside $300,000 Multi- unit $800,000 Single family $500,000 Multi- unit $400,000 Multi- unit $750,000 Single family $1,100,000 Single family $1,800,000 Single family $800,000 3 G Larry Uteck $1,300,000 5 Sandy Lake $1,500,000 6 1 Powder Mill Lake $2,000,000 6 Bedford The projects will take many years to complete and will require additional investments in future years, but APM is limited in what it can invest now and wants to maximize the total profit generated. If the Almon project is selected, then the Novalea one should not. If the Hubley project is selected, then the Lakeside project must also be done, but Lakeside can be done without doing Hubley. Exactly two projects should be single family and at least two must be mixed use or multi-unit. APM has $6,000,000 to invest in 2013. What do you recommend? Formulate an LP model. Let A - 1 if APM selects project A and - if it does not Define variables B, C, D, E, F, G, H, and I in the same manner. The objective function is in Simillion, The objective function is given by Minimize 2.5A+1.8B+0.5C + 1.7D +0.9E+0.8F+ 1.3G+1.SH+21 Maximize 14A + 1.2B +0.3 +0.8D +0.3E+0.4F +0.75 +1.1H+ 1.81 Maximize 2.5A + 1.8B +0.5C +1.75 +0.9E+0.8F + 1.3G+ 1.5H + 21 None of the above